New York, USA, Sept. 07, 2021 (GLOBE NEWSWIRE) -- The latest report published by Research Dive states that the global neonatal ventilator market is predicted to garner a significant revenue of $474.0 million by 2026 rising from $288.6 million in 2018 at a steady CAGR of 6.4% from 2019-2026.
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Market Analysis
Growth: The global neonatal ventilator market is expected to witness growth owing to the rising awareness about the various treatments available for any type of chronic respiratory diseases among infants and babies. This has resulted in widespread implementation and use of neonatal ventilators by healthcare professionals in the medical sector. Also, governments have been taking initiatives while also funding organizations that are involved in research for effective treatments of respiratory illnesses. These factors are expected to add to the rapid growth of the market in the analysis period.
Restraints: Although there are several advantages that the ventilators carry, one of the main causes for them being used sparsely is the high cost. The non-invasive ventilators which are known to be extremely efficient are also expensive due to which most people don’t end up using it. Also, the absence of proper healthcare infrastructure along with skilled professionals is further expected to hamper the growth of the market. These factors along with underdeveloped countries facing a lack of healthcare budgets is further anticipated to limited the market growth in the forecast period.
Segmental Analysis
The market is segregated into multiple segments based on product, technology, ventilation, and end use.
Invasive Neonatal Ventilator Sub-Segment Anticipated to Dominate the Market
By product, the invasive neonatal ventilator sub-segment is predicted to dominate the market with an increase in its share of up to 6.2% by 2026. This growth is due to the extensive use of the invasive ventilators by most medical professionals in the newborn baby intensive care unit. Some variants of invasive ventilators such as the mechanical ones are majorly used all over the world causing the market to grow from 2019-2026.
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High Frequency Ventilator Sub-Segment Predicted to Gain Highest Market Share
By technology, the high-frequency ventilator sub-segment is expected to grow immensely at a CAGR of 7.2%. These ventilators are known to effectively treat neonates in several medical conditions. Also, the high frequency ventilators are known to be safe and do not cause injuries in the users. These factors are expected to assist in the growth of the sub-segment during the forecast period.
Pressure Mode Ventilator Sub-Segment Set to Garner Highest Revenue
By ventilation, the pressure mode ventilator garnered a revenue of $86.6 million in 2018 and is predicted to rise further gaining the highest revenue in the analysis period. This growth is credited to the rising number of preterm births that require constant attention and an immediate source of external breathing. The pressure mode ventilators also assist in lowering chances of preterm births adding to the growth of the sub-segment.
Hospitals Sub-Segment Predicted to Witness Rapid Growth in the Market
By end use, the hospitals sub-segment is predicted to grow immensely. This growth is primarily due to the use of ventilators in hospitals. This can be found in both developing and developed countries and is set to grow further in the analysis period.
Regional Analysis
The Asia-Pacific region is anticipated to grow immensely in the estimated timeframe. The region has been witnessing an increase in demand for advanced ventilators from countries such as China and India. Additionally, the presence and expansion process of several hospitals and clinics along with a steady increase in birth rate is set to further add to the growth of the market.
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Key Market Players
The report contains a list of notable market players who have been ensuring the constant growth of the market. They are as listed below:
- Resmed
- Carefusion
- Smith Medical
- Breas Medical
- Drager Medical
- Medtronic Plc
- Philips Repironics
- Hamilton Medical
- GE Healthcare
- Maquet
The report provides an insight into the various initiatives by the industry experts such as mergers, partnerships & collaborations, and product launches.
In December 2019, Hamilton Medical, a renowned provider of ventilator solutions launched a new and advanced model of their Hamilton C6 model which contains additional features. The ventilator is known to be user friendly and also has a mounting tray that can be used. It is also beneficial for patients due to it convenience in the configuration process for breathing therapy.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and recent strategic developments.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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